Allied Carpets still weighing offers

Tuesday 17 November 1998 00:02 GMT

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ALLIED CARPETS said yesterday it was still considering offers for the entire company following the sale of its troubled Carpetland subsidiary to Carpetright for pounds 13.75m. The offers include one from Alchemy, the venture capital group, at less than 60p per share.

Allied said it had received expressions of interest at 67p a share, but that after the sale of Carpetland and an improving sales performance in remaining stores it cannot recommend an offer at this level. Allied Carpets shares closed 0.5p higher yesterday at 52.5p. Carpetright, run by Lord Harris of Peckham, has bought 29 stores from Allied, including two that trade under the Harris Carpets name.

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